Labor market adjustment to shocks in Australia

Bibliographische Detailangaben
Personen und Körperschaften:	Mohommad, Adil (VerfasserIn)
Format:	E-Book
Sprache:	English
veröffentlicht:	[Washington, D.C.]: International Monetary Fund, May 2017
Gesamtaufnahme:	Internationaler Währungsfonds: IMF working papers ; WP/17, 124
Schlagwörter:	Arbeitsmarktflexibilität; Rohstoffpreis; Arbeitsproduktivität; Schock; Wirkungsanalyse; Australien; Arbeitspapier; Graue Literatur;
Quelle:	Verbunddaten SWB Lizenzfreie Online-Ressourcen International Monetary Fund E-Library
Zusammenfassung:	Labor markets in Australia have adjusted smoothly to significant declines i... Labor markets in Australia have adjusted smoothly to significant declines in commodity prices with little increase in unemployment. This paper examines several aspects of the adjustment, focusing on (i) evidence of increased labor market frictions following the commodity price decline; (ii) flexibility in labor input adjustment in response to demand shocks; (iii) changes in labor productivity in the wake of resource reallocation with the decline in mining investment, (iv) and the role of migration in adjusting to the commodity price and mining investment cycle. We find little evidence of increased labor market frictions with the decline in commodity prices. The relatively smooth transition has been assisted by increased flexibility in adjustment of worker hours over time. Labor productivity growth has sustained its historical average through the transition, despite some temporary drag as the economy rebalances. Finally, migration has played a key role in labor market adjustment through the commodity cycle
Umfang:	1 Online-Ressource (circa 34 Seiten); Illustrationen
ISBN:	9781484301760 1484301765
DOI:	10.5089/9781484301760.001

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http://elibrary.imf.org/view/journals/001/2017/124/001.2017.issue-124-en.xml

http://dx.doi.org/10.5089/9781484301760.001

http://www.elibrary.imf.org/doc/IMF001/24326-9781484301760/24326-9781484301760/Other_formats/Source_PDF/24326-9781484302095.pdf

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